US Big Banks Are A Culture of Crime!

Organized crime. This phrase is now a precise synonym for big-banking in the United States. These Big Banks commit big crimes; they commit small crimes. They cheat their own clients; they swindle outsiders. They break virtually every financial law on the books. What do all these crimes have in common? The Big Banks commit all these crimes again and again and again – with utter impunity.

These fraud factories commit their serial mega-crimes, year after year, because the Big Banks know that they will never, ever be punished. On rare occasions, their crimes have been so egregious that U.S. ‘justice’ officials could no longer pretend to be oblivious to them. In such cases, there was a token prosecution, there was a settlement where the law-breaking banks didn’t even have to acknowledge their own criminality, and there was a microscopic fine – which didn’t even force the felonious financial institutions to disgorge all of their profits from these crimes.

Criminal sanctions, by definition, are supposed to deter criminal conduct. The token prosecutions against U.S. Big Banks didn’t deter Big Bank crime, they encouraged it. But even these wrist-slaps were becoming embarrassing for this crime syndicate, so they dealt with this problem. The Big Bank crime syndicate told its lackeys in the U.S. ‘justice’ department that they were not allowed to prosecute one of its tentacles, ever again.

The lackeys, as always, obeyed their Masters, and issued a new proclamation. The U.S. ‘Justice’ Department would never prosecute a U.S. Big Bank ever again – no matter what crimes it committed, no matter how large the crimes, no matter how many times the same Big Banks committed the same crimes. Complete, legal immunity; totally above the law. A literal culture of crime.

What happens when you create a culture of crime in (big) banking? Not only the banks break laws – with impunity – their bank employees do so as well. Case in point: Warren Buffett’s favorite Big Bank – Wells Fargo. Wells Fargo employees came up with a good idea for boosting their salaries: stealing money directly out of the accounts of the bank’s clients.

Consider how large this crime became, in just one of these tentacles of organized crime.

L.A City Attorney Mike Feuer announced a $185 million settlement reached with Wells Fargo, after thousands of bank employeessiphoned funds from their customers to open phony checking and savings accounts raking in millions in fraudulent fees.[emphasis mine]

Thousands of bank employees stealing millions of dollars from bank customers, in tiny, little increments, again and again and again. But the story gets much worse. Why was a lowly city attorney involved with the prosecution of this organized crime?

So where is the FBI? Where is the Department of Justice? How about California Attorney General Kamala Harris? Too busy campaigning for the Senate to notice? How about L.A. District Attorney Jackie Larry?

Only City Attorney Mike Feuer took action, and he only has the authority to prosecute misdemeanors…

There are only two ways in which the non-action of the U.S. pseudo-justice system can be explained:

  1. All of the layers of “justice” above the City Attorney, are completely bought-off, and refuse to prosecute one of the corporate fronts of their (real) Masters.
  2.  All of the layers of “justice” above the City Attorney considered this systemic crime by Wells Fargo’s employees to be nothing more than a misdemeanour.

 

Take your pick. The U.S. pseudo-justice system is used to seeing so many multi-billion dollar mega-crimes being committed by these fraud factories that the systemic crime at Wells Fargo (which was ‘only’ in the $millions) didn’t even attract their attention. Or, the entire U.S. pseudo-justice system is completely bought-off and corrupt – and they refuse to prosecute Big Bank organized crime.

A culture of crime.

It gets still worse. Thousands of Wells Fargo employees stole millions of dollars, from countless clients. They were caught. But not even one banker was sent to jail. In a real justice system, systemic crime of this nature would/could only be prosecuted in one of three ways. Either every Wells Fargo criminal would be prosecuted to the full extent of the law (given the egregious nature of the crime), or Wells Fargo management would be prosecuted – because they would have/should have known about this crime-wave. Or else both.

Bankers stealing money, directly and brazenly, right out of customer accounts, but no one goes to jail? A culture of crime.

Understand that endemic, cultural changes of this nature don’t originate at the bottom of the corporate ladder. They originate at the top. In the case of the Wall Street crime syndicate; we already know that their management personnel are criminals, because they haveadmitted to being criminals.

Many Wall Street executives says [sic] wrongdoing is necessary: survey

If the ancient Greek philosopher Diogenes were to go out with his lantern in search of an honest man today, a survey of Wall Street executives on workplace conduct suggests he might have to look elsewhere.

A quarter of Wall Street executives see wrongdoing as a key to success, according to a survey by whistleblower law firm Labaton Sucharow released on Tuesday.

In a survey of 500 senior executives in the United States and the UK [New York and London], 26 percent of respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace, while 24 percent said they believed financial services professionals may need to engage in unethical or illegal conduct to be successful… [emphasis mine]

One-quarter of Big Bank management admitted that they “need” to commit crimes. A culture of crime. More needs to be said about the rampant, disgusting criminality among upper management in the Big Banks of the U.S. (and UK).

A known whistleblower was conducting a public survey, asking known criminals how many of them were engaging in criminal behavior. What percentage of respondents would lie when answering such a survey? Three-quarters sounds about right. One-quarter of Wall Street executives admitted that committing crimes was a way of life. The other three-quarters lied about their criminal acts.

Monkey see; monkey do. The lower level foot soldiers see their Bosses breaking laws, with impunity, on a daily basis. Their reaction, at Wells Fargo? “Me too.”

Most if not all of the Wall Street fraud factories conduct detailed “personality testing” on their bank personnel. Are they looking to weed-out those with criminal (if not psychopathic) inclinations? Of course not. They conduct this personality testing to find which employees have no reservations about engaging in criminal conduct – so they can be fast-tracked for promotion.

There is no other way in which the systemic criminality of senior banking personnel can be reconciled with the detailed personality-testing in which they participated, in order to reach that level of management. The Wall Street fraud factories look for the most amoral criminals which they can find. And with the exorbitant, ludicrous “compensation” they award to these criminals for their systemic crimes, they end up with (literally) the best criminals that money can buy.

A culture of crime.

As a final note; the U.S. system of pretend-justice already has a powerful weapon in its arsenal to fight organized crime: the “RICO” act. This anti-racketeering statute was created for one, precise purpose: to not merely prosecute/punish organized crime, but to literallydismantle the crime infrastructure which supports the organized crime.

Not only does the statute confer strong (almost limitless) powers in gathering evidence of organized crime, it also permits mass seizures of assets – anything/everything connected to the organized crime of the entity(ies) in question. In the case of the Big Bank crime syndicate, where all of its operations are directly/indirectly tied into criminal operations of one form or another, if RICO was turned loose on these fraud factories, by the time the dust had settled there would be nothing left.

Oh yes. If the U.S. ‘Justice’ Department ever went “RICO” on U.S. Big Banks, lots and lots and lots of bankers would go to prison, for a very, long time.

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About the Author: Sprott Money

  • Joe Cabot

    Aren’t you the same guy who threatened to use his connections to get me tossed from a site only to have the same site tell you to take a hike? You are not exactly inducing tremors over here.

  • Bill Cenne

    i note a sense of panic in your response, me boy. just admit when you’re beaten and get on with your life.

  • Joe Cabot

    You already tried that one. It kinda backfired. Good luck with this attempt.

  • Bill Cenne

    blah, blah, blah. more insane rants from a looney. please quit messaging me or i’ll have you banned.
    goodbye, d-bag.

  • Joe Cabot

    You have spent numerous posts telling me that my facts are wrong, making personal attacks, and lying. Yet every time I ask you to identify one incorrect fact, one attack, or one lie you fail to do so. Now you blame me for getting you banned from posting? Any evidence for that? Besides, you yapped at me that you had the connections to get me tossed from the site, so it would only stand to reason that you could use your connections to keep yourself from getting banned. How did that work out for you?

  • Bill Cenne

    every other sentence is a personal attack or insult. all your views are lies to incite some type of argument. you flagged my comments to the blog monitors because you were smarting from getting put in your place and couldn’t accept being browbeat. and lastly, number four proves it. you bitched about me and got me banned and i ignored your little games because i realize it’s all you have in your boring, sleazy life.
    goodbye.

  • Joe Cabot

    1.Please identify one personal attack I made against you.
    2. Please identify one lie I posted.
    3. Please explain how I got you banned.
    4. Maybe you got banned for habitually posting stuff like your last sentence.

  • Bill Cenne

    you get away with lies and personal attacks, then you get “ME” banned when I just ignored all your insults.
    goodbye, dkhead.

  • Joe Cabot

    What do I get away with? All I did was refute your posts with facts. And since you could not deny my posts, you started tossing tantrums and threatening to use your sources to get me tossed. And after all of huffing and puffing, they send you packing! Hilarious!

  • Bill Cenne

    not really. i think it was a $hitty thing to do after all the crap you get away with.

  • JohnDille

    Yesterday, a judge rejected our lawsuit and ruled that Nestlé can continue
    pumping tens of millions of gallons of water from the San Bernardino National
    Forest using a permit that expired 28 years ago.(1)

    California is in the middle of the worst drought in decades, but this judge
    called it “reasonable” to allow Nestlé to keep taking our water.

    This decision is wrong, outrageous, and not legally sound — you’d
    better believe we’re going to appeal it. But we need your help to fund the
    legal fight if we’re going to overturn this awful decision.

    In 2015 alone, an estimated 36 million gallons were piped away from the San
    Bernardino National Forest to be bottled and sold under Nestlé’s Arrowhead brand
    of bottled water.

    The permit expired in 1988, but the piping system remains in active use,
    siphoning about 98,000 gallons of water a day out of the forest in the past
    year.

    Reports from the end of 2015 and the summer of 2016 indicate that water
    levels at Strawberry Creek in the San Bernardino National Forest are at record
    lows, threatening local wildlife that is already dealing with the ongoing
    drought in Southern California.

    This judge ignored the environmental impacts. He ignored the public’s right
    to input. In fact, the only interests he apparently considered were
    Nestlé’s! It was a shocking bow to corporate power — but this fight
    has just begun.

    In addition to appealing the decision, we’re continuing to push the Forest
    Service directly to stop Nestlé from taking our water through the environmental
    review process launched in response to YOUR activism.

  • proudamerican

    you are to stupid to read. I SAID WHAT IS WRONG WITH JAIL TIME AND A FINE? You really do need to put the crack pipe down and step away. The crap has eaten your brain until you think communism is good and capitalism is bad. You do stick up for odumbo’s crony capitalism. Where the government rewards the big donors and punish the working man.

  • JohnDille

    POOR JOE CABOT… SMALL TIME HUSTLER AND CON ARTIST… JEALOUS OF HIS RICH CAPITALIST HEROES WHO HAVE MADE VAST FORTUNES SCAMMING THE PUBLIC… BIG TIME… PROTECTED BY REPUBLICAN GENERATED LAWS AND REGULATIONS THAT KEEP BIG SHOT POLITICIANS FROM BEING ABLE TO DO MUCH OF ANYTHING TO STOP THE PREDATORY BEHAVIOR OF JOE CABOTS PREDATORY CAPITALISTIC HEROES! POOR JOE KEEPS WONDERING HOW HE CAN BECOME A BIG TIME PREDATOR… INSTEAD OF JUST A SMALL TIME GRIFTER… AND IT HAS NEVER DONNED ON HIM THAT THE KEY TO BECOMING A BIG FISH IS TO HAVE RICH FRIENDS WHO CAN MANIPULATE ALL THE REPUBLICANS WHO NEED TO BE MANIPULATED, IN ORDER TO MAKE HIS SCAMS LEGAL AND ACCEPTABLE!!! GO BIG OR GO HOME, JOE!!!

  • JohnDille

    SO… THE BIG FINANCIAL OUTFITS HAD TO PAY HUNDREDS OF BILLIONS OF DOLLARS IN FINES… BECAUSE THAT EVIL OBAMA AND HOLDER PROSECUTED THEM… AND THAT UPSETS YOU??? WHY WOULD THAT UPSET YOU… DID YOU GET FINED FOR GOING ALONG WITH THOSE BIG TIME CROOKS?? OR ARE YOU THE TYPICAL REPUBLICAN… WHO THINGS THAT THE RICH SHOULD BE ABLE TO DO WHATEVER THEY PLEASE… NO MATTER HOW BADLY RICH REPUBLICAN POLICIES AND ACTIONS HURT ALL THE REST OF US!!! PROUDNAZIAMERIKAN… JUST ANOTHER HAPPY LITTLE PUPPET OF HIS RICH REPUBLICAN FASCIST MASTERS!!!

  • JohnDille

    You say that the loan people were shredding documents? is that where the odumbo administration, clinton and the IRS learned how to shred all the documents they were told to keep for evidence? THAT WAS IN EARLY 2006… LONG BEFORE ANYONE EVEN HEARD OF OBAMA… AND LONG BEFORE REPUBLICANS BLOCKED EVERYTHING THAT THE DEMOCRATIC MAJORITIES IN 2007 TO 2010 TRIED TO DO TO STOP THE PROBLEMS AND TO FIX THEM AFTER THE WHOLE THING EXPLODED!!! AND FOR THE LAT 5 OR 6 YEARS… REPUBLICANS HAVE BEEN TRYING TO DESTROY DODD FRANK…. BECAUSE THEIR BIG BANK AND BIG WALL STREET SUPPORTERS ARE WHINING ABOUT HOW MUCH DODD FRANK KEEPS THEM FROM MANIPULATING THE MARKETS… LIKE THEY DID BEFORE DODD FRANK TOOK EFFECT!!! AS FOR PEOPLE WHO SIGNED THE CROOKED HOUSING CONTRACTS BEING RESPONSIBLE FOR WHAT THEY SIGNED…. WHY DO YOU THINK THAT THE CROOKS WHO WERE PUSHING ALL OF THOSE CROOKED CONTRACTS KNOWINGLY AND DELIBERATELY PUSHED THEM IN AREAS FULL OF ILLEGALS AND NEW IMMIGRANTS WHO DID NOT UNDERSTAND EVEN BASIC ENGLISH, IN LARGE NUMBERS OF CASES??? OH, YEAH… BECAUSE NO ONE WHO COULD HAVE ACTUALLY READ THEM WOULD HAVE SIGNED THEM!!! THE CONTRACT PUSHERS DELIBERATELY LIED TO THE PEOPLE… TELLING THEM THE CONTRACTS WERE WONDERFUL AND GREAT AND A GREAT WAY TO BECOME A LEGAL AMERICAN!!! WHICH IS WHY THE HOT BEAD OF ALL THAT ACTIVITY WAS IN SOUTHERN CALIFORNIA AND LAS VEGAS AND PHEONIS AND SOUTHERN FLORIDA… WHERE MOST OF THE POPULATION WERE HISPANICS AND NEW IMMIGRANTS AND BLACK PEOPLE… MOST OF WHOM HAD LITTLE FORMAL EDUCATION!!! REPUBLICANS ARE THIOEVES… OR THE PUPPETS OF THIEVES…. NO OTHER WAY TO LOOK AT IT!!!

  • Joe Cabot

    Rather ironic, don’t ya think?

  • Joe Cabot

    He didn’t prosecute for the same reasons that Obomber and Holster haven’t. They are all in bed with the banksters. Seems like you are pretty much the only person not aware of this little piece of reality.

  • Bill Cenne

    can’t reply anymore, got banned. thanks a lot, fkhead.

  • proudamerican

    What is wrong with big fines and jail time? Like I said the democrats are protecting their own with tiny fines. If they were big fines the bankers would not have money to donate to the democraps.

  • proudamerican

    Your BS never ceases to amaze me. I don’t know what it is that you are on but it is definitely mind altering.Now to educate you tiny communist brain. I’m not just blaming the democrats for all the issues. Republicans did nothing to stop the crooked democrats and bankers so they have to take a small amount of blame. In the last 2 years of W presidency the democraps controlled the house and senate. W did try to stop fannie and freddie and warned that there was an issue. The democrap leadership, sleezy harry, doppie dodd and barny frank kept pushing. Frank was even telling everybody that Fannie and freddie was a great investment just days before the clasp. The CEO of Freddie Mac was getting enormous bonuses for destroying freddie. He was also a big odumbo donor so he was never prosecuted. The democrap created the problem. Then dodd and frank wrote a bill to fix the problem. It is know as dodd/frank bill and it is still killing the economy.

    You say that the loan people were shredding documents? is that where the odumbo administration, clinton and the IRS learned how to shred all the documents they were told to keep for evidence?

    Everybody wants to blame the lender for loaning money to people. The people that signed the bad loans has to share the blame. The imaginary person that signed the loan with the balloon payment should have had somebody give him advice before he signed. He has nobody to blame but himself.

  • JohnDille

    MOST OF THOSE CRIMES WERE COMMITTED WHILE BUSH WAS PRESIDENT!!! WHY DIDN’T HE BUST ALL THOSE BIG TIME CROOKS??? OH YEAH… BECAUSE THEY WERE HIS SUPPORTERS, AND THE SUPPORTERS OF HIS POLITICAL ALLIES!!! BUSH THE BOOTLICKER!!! AND JOE CABOT THE LOYAL BRAIN WASHED REPUBLICAN!!!

  • Joe Cabot

    Hey deep thinker: While you were not paying attention, all of these banksters that committed the crimes, not only kept their jobs, but they have also watched the stock prices of the banks rise dramatically since the housing meltdown, so they avoided going to jail and watched their preferred stock portfolios grow, while passing the billions in fines downhill. And anyone advocating for criminal charges to be brought against these guys are not asking for any type of Club Med treatment, instead hoping that real prison time be the answer. But, Barry the Gutless and his hack Holster once again talked a big game but showed their true colors and loyalties by letting everyone one of the criminals walk away. After all, why would they bite the hand that fills their pockets. It is rather amusing to see how loyal you are to the common worker until Obomber tells you to side with the banksters and against those same workers. Then you lick his boots.

  • JohnDille

    THE RICH GUY TAKES A BIG HIT ON HIS STOCKS OR BONDS, BECAUSE AN OUTRAGED PUBLIC STOPS BUYING THE STOCKS AND BONDS… OR SELLS WHAT THEY OWN!!! SO… AS HAPPENED MANY TIMES DUE TO THE FINANCIAL CRIMES OF THE RICH AND THE ECONOMIC DISASTERS THAT FOLLOWED THOSE CRIMES… MORE THAN 10 TRILLION DOLLARS WAS WIPED OFF THE NET WORTH OF THE RICH… MOSTLY!!! I WOULD SAY THAT THAT IS FAR FAR FAR BETTER PUNISHMENT THAN SENDING SOME RIGHT WING REPUBLICAN TO CLUB MED FOR A FEW DOZEN MONTHS… AT PUBLIC EXPENSE!!! ONE STORY THAT STICKS WITH ME IS THE GUY WHO RAN SOME BIG COMPANY… MAYBE IT WAS ENRON… THE CEO LOST EVERYTHING… AND ENDED UP MOWING LAWNS AND THAT SORT OF THING… LIKE SOME TEENAGER… JUST TO PAY HIS BASIC SURVIVAL LEVEL BILLS! NOW… THAT WAS JUSTICE!!! AND IT WOULD BE WONDERFUL IF MANY THOUSANDS OF RICH CROOKS… AKA CAPITALISTS AND REPUBLICANS… MET THAT SAME FATE!!! BUT… OF COURSE… REPUBLICANS ARE VERY STUPID PEOPLE!!! THEY WILL NOT TRUST SOME GUY JUST BECAUSE HE HAS LONG HAIR OR BLACK SKIN…. BUT THEY WILL OFTEN TRUST SOME BIG TIME SCAM ARTIST WITH THEIR LIVE SAVINGS!!! WHICH EXPLAINS THE POPULARITY OF DONALD TRUMP!!!

  • Joe Cabot

    Uh, because the rich guy doesn’t pay the bill. He gets to keep his job, and the shareholders and customers of the bank pay the fines, which, compared to the bottom line of these banks, is nothing but pennies on the dollar. A dog and pony show for Obomber and Holster, and business as usual for the banksters, while the shareholders and customers, many of them simple, hardworking, honest people are once again left holding the bag.

  • JohnDille

    THE STORY IS TOTALLY TRUE… AS ARE THE MANY OTHERS I TELL!!! TOO BAD YOU NEVER HAD A LIFE… OR YOU COULD TELL GREAT STORIES OF YOUR OWN!!! POOR PATHETIC JOE… BORN AND RAISED TOO RICH TO EVER HAVE HAD TO REALLY LIVE HIS LIFE IN ORDER TO MERELY SURVIVE!!! I GUESS THAT THAT IS WHY RICH PEOPLE LIKE YOU TEND TO BE REALLY BORING… AND TOTALLY CLUELESS…. WHILE THE REALLY INTERESTING FOLKS HAD TO COME UP THE HARD WAY… LIKE I DID!!!

  • JohnDille

    WHY SHOULD THE GOVERNMENT PAY MILLIONS OF DOLLARS TO LOCK SOME CAPITALIST UP… WHEN IT CAN REALLY HURT THE CROOKS BY FINING THEM BILLIONS OF DOLLARS??? WHICH THE OBAMA ADMINISTRATION HAS DONE… BIG TIME!!! YOU ARE ONE OF THOSE CROOKED CAPITALISTS… A FACT THAT YOU SEEM TO BE VERY PROUD OF! WHICH WOULD YOU PREFER… TO GO TO CLUB MED FOR A YEAR OR TWO… OR TO GET FINED INTO BANKRUPTCY, AND HAVE YOUR RICH MANS LIFE TOTALLY RUINED??? FINING COMPANIES BILLIONS REALLY REALLY HURTS THEM!!! SOME RICH GUY GOING TO PRISON WOULD JUST BE A VACATION AWAY FROM ALL OF THE PRIVILEGES AND GOODIES THAT HIS BIG BUCKS CAN BUY… SORT OF LIKE TAKING AN EXTENDED VACATION BACK INTO THE WILDS, TO GET AWAY FROM IT ALL FOR A COUPLE OF YEARS!!!

  • Joe Cabot

    Now you were living in Vegas leading up to the housing bust? Your continued fabrication of stories to fit your narrative leads me to believe that you fancy yourself as some modern day Forrest Gump/Communist Version.

  • Joe Cabot

    One of your amusing tics is not understanding a post and arguing against a point that was not made.. Again, not one significant bankster has been prosecuted, convicted, and locked up. Yes, we know that Obomber and Holster collected a bunch of fines. Pretty much every administration does this, and all it really does is to convince some dim rubes that something is being done, when the reality is that, to the banksters, this is just the cost of doing business.

  • JohnDille

    Remember, not one significant bankster has been prosecuted, convicted, and locked up out of this recent past Great Recession. WRONG!!! THE OBAMA ADMINISTRATION… AND HIS ATTORNEY GENERAL ERIC HOLDER. PROSECUTED DOZENS OF MAJOR CASES… AND GOT SEVERAL HUNDRED BILLION… THATS BILLION WITH A BIG B… IN FINES FROM SOME OF THE BIGGEST BANKS AND FINANCIAL OUTFITS IN THE USA… AND SEVERAL FOREIGN OUTFITS, AS WELL!!! WHY DO YOU THINK THAT REPUBLICANS HATED HOLDER SO MUCH??? IT WAS BECAUSE HE WAS ONE OF THE MOST EFFECTIVE ATTORNEY GENERALS IN AMERICAN HISTORY!!! HE WENT AFTER THE GUYS AT THE TOP… BUT INSTEAD OF PUTTING THOSE CROOKS IN PRISON FOR A COUPLE OF YEARS EACH… AT GOVERNMENT EXPENSE…. HE FINED THE HOLY HADES OUT OF THEM!!! AND EVEN THOUGH RICH REPUBLICANS AND THEIR POLITICAL PROSTITUTES FOUGHT HIM AT EVERY TURN… HE USUALLY WON HIS CASES!!! AND NOW… LYNCH IS DOING THE SAME THING!!! WHICH IS WHY REPUBLICANS WANT TO GET RID OF HER, TOO!!! OF COURSE, YOU WOULD KNOW ALL OF THIS… IF YOU HAD EVER ACTUALLY READ AND LISTENED TO LEGITIMATE NEWS SOURCES!!! FOX NEWS AND ALL THE RIGHT WING PROFESSIONAL LIARS WHO OPERATE TALK SHOWS AND OTHER SCAMS WILL NEVER… EVER… TELL YOU THE ACTUAL TRUTH!!! ABOUT ANYTHING!!!

  • JohnDille

    SO… LIAR LOANS AND SUCH… WHICH BECAME BIG BUSINESS UNDER BUSH JUNIOR AND HIS REPUBLICAN ALLIES… IS SOMETHING YOU BLAME ON CARTER AND CLINTON…. YEARS AFTER THEY LEFT OFFICE??? YOU SHOULD KNOW THAT I LIVED RIGHT IN THE VERY HEART OF THE WHOLE HOUSING BOOM AND BUST THING…. I LIVED AND WORKED ALL OVER LAS VEGAS AREA IN THE 6 YEARS LEADING RIGHT UP TO THE BIG BUST! I ONLY LEFT BECAUSE I REALIZED THAT REALLY BAD THINGS WERE GOING TO START HAPPENING… THINGS WERE GETTING SO BAD THAT TENS OF HOUSANDS OF ILLEGALS WERE LEAVING… AND THEIR REPUBLICAN EMPLOYERS DID NOT EVEN TRY TO REPLACE ANY OF THEM!!! EVERYWHERE I WENT, PEOPLE WERE DESPERATE TO BUY HOUSES OR CONDOS…. THOSE WITH MONEY BURNING A HOLE IN THEIR POCKETS WANTED TO BUY AND FLIP PROPERTIES…. AND THOSE WHO JUST WANTED A PLACE TO LIVE WERE TRYING… DESPERATELY… TO BUY, BECAUSE THEIR RENTS HAD DOUBLED AND EVEN TRIPLED IN JUST THE PREVIOUS 3 TO 5 YEARS… AND LOOKED SET TO SOAR EVEN MORE! AND ON TOP OF THAT… THERE WERE ADVERTISEMENTS… EVERYWHERE… IN THE PAPER AND ON BROCHURES AND IN PILES OF JUNK MAIL AND ON THE RADIO AND ESPECIALLY ON TV… SAYING… BUY NOW BEFORE HOUSING COSTS SOAR…. EVEN AFTER THEY HAD ALREADY DOUBLED… AND IN BETTER AREAS… HAD ALREADY TRIPLED!!! AND THE ADS WERE FILLED WITH… ANYONE CAN QUALIFY… YOU CAN GET A LOAN… NOW…. JUST COME IN AND BRING YOUR LATEST CHECK STUB, AND WE CAN SELL YOU A HOUSE!!! BANKRUPTCIES NO PROBLEM… AND SO ON AND SO ON AND ON AND ON! FOR ABOUT 6 MONTHS, I WORKED AT A HOME DEPOT BASED AIR CONDITIONING SALES PLACE… AND I WAS BOUNCED AROUND TO EVERY SINGLE ONE OF THE ALMOST A DOZEN HD STORES IN TOWN…. AND IN EVERY SINGLE ONE OF THEM… CUSTOMERS WOULD COME IN WITH BIG DREAMS OF HOW THEY WERE GOING TO BUY A DUMPY PLACE, FIX IT UP, AND FLIP IT FOR A FORTUNE!!! LATER, MY BOSS IN A JOB I HELD FOR 2 YEARS WAS INTO FLIPPING PROPERTIES, AND SHE HIRED ME TO DO A LOT OF WORK FOR HER ON THE SIDE… FIXING UP PROPERTIES FOR HER TO FLIP. ONCE I REALIZED WHAT WAS HAPPENING, I VIRTUALLY BEGGED HERE TO SELL EVERYTHING AND GET OUT! SHE SOLD MOST OF HER PROPERTIES… THE LAST ONE LITERALLY NO MORE THAN A MONTH BEFORE EVERYTHING STARTED TO FALL APART!!! I SAVED HER AT LEAST A HALF MILLION DOLLARS IN LOSSES… WHICH MEANS I SAVED HER FROM TOTAL BANKRUPTCY!!! MEANWHILE… THE LINE I WORKED ON IN THAT ELECTRONICS FACTORY HAD A NORMAL CREW OF ABOUT 20 PEOPLE… MOST OF THEM FAIRLY STEADY EMPLOYEES… EVEN THOUGH WE WERE ALL TEMPS… JUST LIKE HALF THE PEOPLE IN LAS VEGAS WERE BACK THEN…. AND OF THOSE 20 OR SO PEOPLE… ONLY ONE PERSON BESIDES MYSELF WERE BORN IN THE USA!!! HALF OF THE REST WERE ILLEGALS… AND EVERYONE KNEW IT! ONE DAY, THE RUMOR WAS THAT ICE WAS GOING TO SHOW UP… AND WHEN I CAME INTO WORK THAT MORNING, LESS THAN HALF OF THE USUAL 100 OR SO EMPLOYEES HAD COME TO WORK!!! ALL THOSE WHO DID NOT SHOW UP WERE AFRAID OF THE IMMIGRATION FOLKS!!! BUT… SINCE BUSH WAS PRESIDENT AT THE TIME, ICE NEVER SHOWED UP, BECAUSE THERE WAS NO ATTEMPT BY BUSH TO DO ANYTHING TO CRACK DOWN ON THE ILLEGALS! ANYWAY… OF THE 20 OR SO EMPLOYEES ON MY LINE… 4 WERE IN THE PROCESS OF BUYING HOUSES!!! EVEN THOUGH NONE OF THOSE FOLKS EARNED OVER 9 DOLLARS AN HOUR… AND MOST EARNED SOMEWHAT LESS! AND ALL 4 WERE FOREIGN BORN… AND 3 WERE ILLEGAL!!! THE OUTFITS WHO WERE SELLING THEM HOMES TOLD THEM THAT… IF THEY OWNED A HOME… THEY COULD NOT BE DEPORTED, AND WOULD GET TO BE FIRST IN LINE WHEN IT CAME TIME TO GAIN CITIZENSHIP!!! ALL 4 OF THOSE PEOPLE CLOSED ON THEIR LOANS… AND ALL OF THE LOANS THEY GOT WERE WELL OVER 200,000 DOLLARS… EVEN THOUGH NONE OF THOSE HOUSEHOLDS EARNED ANYWHERE NEAR EVEN 40,000 DOLLARS!!! I TRIED TO GET AT LEAST 3 OF THOSE FOLKS TO WALK AWAY FROM THE DEALS… BECAUSE I REALIZED THEY WERE BEING SCAMMED… BIG TIME! A BLACK GUY SHOWED ME HIS CONTRACT… ALL PROUD OF THE FACT THAT HE HAD JUST BOUGHT HIS FIRST EVER HOME… AT THE AGE OF 38!!! I READ HIS CONTRACT AND NEARLY DIED OF HORROR… AND HE WAS HORRIFIED ONCE I TOLD HIM WHAT HE HAD SIGNED… A $275,000 LOAN AT 9 AND A HALF PERCENT, WITH A 50,000 DOLLAR BALLOON PAYMENT DUE IN 3 YEARS!!! THE CRIMINALS WHO SOLD ALL OF THESE MORTGAGES AND WHO SET UP ALL OF THESE LOANS WERE JUST FLAT OUT CON ARTISTS, TAKING ADVANTAGE OF POORLY EDUCATED PEOPLE… MOST OF WHOM COULD NOT EVEN SPEAK MUCH ENGLISH, MUCH LESS READ AND UNDERSTAND THE KIND OF NONSENSE THAT GOES INTO THOSE SCAM TYPE OF CONTRACTS! SO… YOU CAN TAKE YOUR REPUBLICAN LIES AND BALONEY AND BS AND STICK IT ALL YOU KNOW WHERE… BECAUSE I KNOW THE COLD HARD TRUTH…. AND IT IS NOTHING LIKE WHAT YOU REPUBLICANS SAY IT IS!!! AND OH… BY THE WAY… ONE OF MY CO-WORKERS AT THE ELECTONICS FACTORY TOLD ME ABOUT GETTING HIRED FOR A WEEK AT ANOTHER LOCATION. HER JOB… AND THE JOBS OF MAYBE 20 OTHER PEOPLE AT SAME PLACE… WAS SHREDDING MASSIVE AMOUNTS OF DOCUMENTS. AT THE TIME, I JUST FIGURED THAT THEY WERE SHREDDING OLD STUFF…. BUT LATER ON, I REALIZED WHAT SHE WAS SHREDDING WAS CONTRACTS AND SUCH THAT WOULD HAVE LED TO REALLY SERIOUS LEGAL CHARGES AGAINST THE OUTFIT THAT HIRED HER AND ALL THE OTHER TEMPS…. COUNTRYWIDE MORTGAGE… ONE OF THE BIGGEST FRAUDS IN THAT WHOLE MASSIVE DISASTER…. AND NOW A MAJOR PART OF BANK OF AMERICA!!! YOU REPUBLICANS NEED TO BE CAREFUL WHO YOU TELL YOUR LIES TO… THERE ARE A LOT OF HONEST PEOPLE OUT THERE WHO KNOW THAT YOU ARE LYING, AND WHO WILL CALL YOU ON IT!!! AND I HAPPEN TO BE ONE OF THEM!!!

  • proudamerican

    dillie let me educate you a bit. I know you won’t listen because you don’t think the democrat/communist party can do no harm. Big government will not prosecute big banks because they are in bed together. Big government under carter blackmailed big banks into making subprime loans with the CRA. Clinton doubled down on the CRA and made big banks give loans to anybody that applied. Liar loans as they became known. Banks went to clinton and said they were loosing too much money. Clinton made the loans government guaranteed. This is when the criminal acts began. Fanny mae and freddie mac was started to buy all the bad notes that the banks acquired. At the same time clinton and the democrats got rid of glass steagall. This allowed commercial banks and investment banks to be one and the same. There was so many bad loans that the banks and government got together and created derivatives. these derivatives were so toxic big government had to turn its head and ignore them. Big banks were trading them so much that nobody knew what they owned. The only thing they cared about was the big bonuses the bankers were getting. Big government just held it’s hand out for donations to the democrat party. Eventually this caused the financial crisis and the great recession. All caused by the communist democrat party. So you see the bankers will not be prosecuted because a lot of democrats will be taken down with the bankers. I know you will twist it around in your tiny little brain and blame the republicans for the whole thing. When democrats need money they run to big banks and wall street. Check and see how much killery is getting from them.

  • BBGun

    People/Mob Justice is called for when the country’s justice system is totally corrupted and serving and enabling the very criminals it supposes rein them in. Remember, not one significant bankster has been prosecuted, convicted, and locked up out of this recent past Great Recession. So these Congressional hearings and other farcical public shows are a Cruel Joke to the good people and world if nothing would happen afterward. The actual criminals and their associates and corrupted/bought-off politicians, law enforcement officials, etc. are one and the same … hitherto Unaccountable Mega Criminals. There might just be a manifestation of bodies hanging from street lamp posts and the like in the near future.

  • JohnDille

    WELL, NOW, ISN’T THIS A SHOCK!!! THE RIGHT WINGERS WHO OPERATE THIS SO CALLED INFORMATIVE WEBSITE AND ASSOCIATED CHAT BOARD… ARE SAYING THE SAME THING THAT WE LIBERALS… SOCIALISTS AND COMMIES, ACCORDING TO RIGHT WINGERS… HAVE BEEN SAYING FOR DECADES… THAT CORPORATE AMERICA IS SIMPLY LEGALIZED ORGANIZED CRIME, AND THAT CAPITALISM IS A GIGANTIC FRAUD AND SCAM!!! OF COURSE, THE RIGHT WINGERS HERE TELL US THAT WITH A TWIST… THEY BLAME DEMOCRATS FOR NOT BUSTING THESE BIG CROOKS…. NEVER MIND THAT THE REAL REASON WHY DEMOCRATS ARE NOT BUSTING THE CROOKS… IS BECAUSE RICH REPUBLICANS AND THEIR POLITICAL PROSTITUTES WILL NOT ALLOW THEM TO DO THAT!!! REPUBLICANS DEFEND THEIR CROOKED BILLIONAIRE MASTERS VERY WELL!!! AND MASTERFULLY BLAME DEMOCRATS FOR NOT DOING WHAT REPUBLICANS WILL NEVER ALLOW THEM TO DO!!! BUT… IT IS VERY EASY TO DELUDE THE TYPICAL REPUBLICAN BOTER… ESPECIALLY RIGHT WINGER REPUBLICANS!!! WE COULD SAY THAT THOSE RIGHT WING FOLKS HAVE THE MENTAL CAPACITY OF CHILDREN…. BUT THAT WOULD BE AN INSULT TO MOST CHILDREN!!!

  • Eileen

    No RICO on big banks, only on the little guy on his (or her) way to the bank to make a deposit of $8900. That small business owner is now accused of money laundering. But lacking the resources to bribe the government officials, now sees his (or her) business assets seized, house seized and thrown into a homeless shelter, while the big banks bilk billions, if not trillions, out of everyone in sight, including the government